Short Interest in Beasley Broadcast Group, Inc. (NASDAQ:BBGI) Decreases By 13.8%

Beasley Broadcast Group, Inc. (NASDAQ:BBGI) was the recipient of a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 70,004 shares, a drop of 13.8% from the February 26th total of 81,211 shares. Based on an average daily trading volume, of 9,884 shares, the days-to-cover ratio is presently 7.1 days. Currently, 8.2% of the company’s shares are sold short.

Hedge Funds Weigh In On Beasley Broadcast Group

Several hedge funds and other institutional investors have recently modified their holdings of BBGI. Osaic Holdings Inc. purchased a new stake in shares of Beasley Broadcast Group during the second quarter worth about $83,000. Gamco Investors INC. ET AL raised its position in Beasley Broadcast Group by 22.3% during the 3rd quarter. Gamco Investors INC. ET AL now owns 56,154 shares of the company’s stock valued at $296,000 after purchasing an additional 10,238 shares during the last quarter. Susquehanna International Group LLP bought a new position in Beasley Broadcast Group during the 3rd quarter valued at approximately $85,000. Finally, HRT Financial LP purchased a new stake in Beasley Broadcast Group in the 4th quarter worth approximately $129,000. 21.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Beasley Broadcast Group in a research note on Friday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Beasley Broadcast Group Stock Performance

Shares of NASDAQ BBGI remained flat at $3.34 during mid-day trading on Wednesday. 11,612 shares of the company traded hands, compared to its average volume of 19,522. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.68. Beasley Broadcast Group has a 12 month low of $3.20 and a 12 month high of $26.37. The business’s 50-day moving average price is $4.23 and its 200 day moving average price is $4.94. The stock has a market capitalization of $6.01 million, a price-to-earnings ratio of -0.71 and a beta of 0.32.

About Beasley Broadcast Group

Beasley Broadcast Group, Inc is a diversified media company primarily engaged in the ownership, operation and licensing of radio broadcast stations across the United States. Headquartered in Naples, Florida, the company provides local and regional audiences with a mix of music, news, talk and sports programming designed to serve diverse demographic markets. Through its portfolio of stations, Beasley generates advertising revenues by offering on-air spots, sponsorships and promotional partnerships to national and local advertisers.

In addition to traditional over-the-air programming, Beasley Broadcast Group offers digital services that include live audio streaming, podcast production, mobile apps and website content for many of its radio brands.